Ann: Euroports - Co-investors take 29.7% interest, page-8

re: Ann: Euroports - Co-investors take 29.7% ... SYDNEY, Dec 24 (Reuters) - Australian asset manager Babcock & Brown Infrastructure Ltd (BBI.AX) has agreed to issue new shares in Babcock & Brown Europe (Euroports) to two co-investors in the port operations venture, BBI said in a statement on Wednesday.

BBI European Infrastructure Fund and Antin, a unit of BNP Paribas (BNPP.PA), will pay 121.5 million euros ($169.6 million) for the new shares, giving them a combined 29.7 percent stake in Euroports, the statement said.

The two investors have to option to raise the stake to 49 percent within 18 months.

Euroports is one of the largest port operators in Europe. ($1=A$1.47) (Reporting by Denny Thomas;) (([email protected]; +61 2 9373 1812; Reuters Messaging: [email protected])) ($1=.7164 Euro)